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Nov 16 - 03:55 AM

EUR/USD - Bearing Down On Major Fibo As New 2021 Lows Are Set

By Martin Miller  —  Nov 16 - 02:05 AM
  • EUR/USD saw 3rd biggest drop of 2021 last Wed when it dropped 114 pips

  • Spot has made a series of new 2021 lows in recent trading sessions

  • It has registered four daily closes in a row under the 1.1493 Fibo

  • 1.1493 Fibo is a 50% retrace of the 1.0636 to 1.2349 (2020 to 2021) rise

  • That increases the odds for a much bigger drop to the 1.1290 Fibo

  • 1.1290 Fibo is 61.8% retrace of the same 1.0636 to 1.2349 gain

  • Dollar fundamental and technical factors bullish nL1N2S60TG

  • EUR/USD Trader TGM2334. Previous update nL1N2S60IH

Daily Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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